https://www.taxtmi.com/caselaws?id=368384 The Tribunal upheld the validity of assessment orders under Section 153C and Section 143(3) of the Income Tax Act, rejecting the contention that they were time-barred. It ruled in favor of the assessee regarding the addition of gifts from relatives, disallowance of vehicle expenses and insurance, addition on account of alleged loan repayment, and disallowance of interest on a loan claimed under house property. However, it partially allowed the disallowance of deduction under Section 80C for repayment of a house loan, reducing the disallowed amount. The judgment highlighted the significance of proper documentation and compliance with legal provisions in tax assessments. en-us Tue, 28 Aug 2018 00:00:00 +0530 Thu, 04 Oct 2018 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368384 The Tribunal upheld the validity of assessment orders under Section 153C and Section 143(3) of the Income Tax Act, rejecting the contention that they were time-barred. It ruled in favor of the assessee regarding the addition of gifts from relatives, disallowance of vehicle expenses and insurance, addition on account of alleged loan repayment, and disallowance of interest on a loan claimed under house property. However, it partially allowed the disallowance of deduction under Section 80C for repayment of a house loan, reducing the disallowed amount. The judgment highlighted the significance of proper documentation and compliance with legal provisions in tax assessments. Case-Laws Income Tax Tue, 28 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368384